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Copper Scrap Price Predictions Comparison: US & Canada – May 30, 22

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by - 5/30/2022 976 Views

Copper Scrap price predictions highly benefits Copper Scrap traders and scrap related industry to better decide when to buy or sell Copper Scrap.

Our RIM researchers have been predicting Copper Scrap prices in the US and Canada for the last several months, and our prediction is very accurate, with a 0.5 to 3% difference.

We predicted the Copper prices in the US and Canada for May 30, 2022, using AI and Granger's causality and Linear Regression models after understanding the correlation between Copper prices and Copper Scrap prices in India.

Copper Scrap traders, recyclers, and investors can profit significantly by learning Copper Scrap price predictions. Let us now compare the Copper Scrap predicted price and the actual Copper Scrap price in the US and Canada on May 30, 2022.

Copper Scrap Predicted Price Vs. Actual Price in the US & Canada

  Copper Scrap Predicted Price Actual Price Diff Diff in %
0 Copper #1 (US) $ 3.73 $ 3.75 -0.02 -0.53%
1 Copper #2 (US) $ 3.29 $ 3.30 -0.01 -0.30%
2 Brass (US) $ 2.02 $ 2.10 -0.08 -3.81%
3 Hard Brass (Canada) $ 3.77 $ 3.77 0.00 0.00%
4 Copper #1 (Canada) $ 4.90 $ 4.73 0.17 3.59%
5 Copper #2 (Canada) $ 4.61 $ 4.40 0.21 4.77%
6 Copper #3 (Canada) $ 4.55 $ 4.40 0.15 3.41%
7 Copper Radiators (Canada) $ 2.85 $ 2.75 0.10 3.64%
8 Sheet Copper (US) $ 2.97 $ 3.00 -0.03 -1.00%

Market Price Graph of Copper No.1 Scrap in the United States

Comparison Copper Scrap Price Predictions - US & Canada - May 30, 2022


Copper prices hit one-month highs of $4.34 per pound on May 30, 2022 in the CME Futures. Last week, Copper prices fell sharply for four consecutive days after reaching two-week highs, but Copper prices rose again on Monday, reaching one-month highs and ending the week positively.

The dramatic spike in Copper prices is due to increased demand expectations from China in June, which is progressively beginning to recover from tough covid-19 lockdowns, while Chinese stock markets soared in anticipation of additional stimulus measures.

While trade tariffs in China are expected to be lifted in the coming months, economic activity and manufacturing initiatives are expected to grow faster but at a slower rate.

Similarly, Copper prices are projected to decline further in the coming days as economic activity in the United States, Europe, and other major countries slow. Meanwhile, a weakening dollar index and rising inflationary pressures strain the Copper market and Copper pricing.

Copper prices rose 1.17% from the previous closing price, hitting $4.34 per pound in the CME Futures. As of today, Copper Scrap prices in the United States are now trading at,

Copper No.1 Scrap Prices (US): 3.75 USD/Lbs

Copper No.2 Scrap Prices (US): 3.30 USD/Lbs

Sheet Copper Scrap Prices (US): 3.00 USD/Lbs

Brass Scrap Prices (US): 2.10 USD/Lbs

Today’s Copper Scrap Prices in the Canada are

No.1 Copper Scrap Prices (Canada)4.73 CAD/Lbs

No.2 Copper Scrap Prices (Canada): 4.40 CAD/Lbs

No.3 Copper Scrap Prices (Canada): 4.35 CAD/Lbs

Hard Brass Scrap Prices (Canada): 3.77 CAD/Lbs

Copper Radiators Scrap Prices (Canada): 2.75 CAD/Lbs

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Category : General

Tags : Copper, Copper Prices, Copper Scrap, Copper Scrap Prices, Copper Scrap Price Forecast US & Canada, Copper Scrap Price Predictions US & Canada

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About Jenisha Rajakumar

I'M a Research Analyst and Content Creator at RIM. Currently I'm researching on Copper Prices around the Globe and the impacts on Copper Scrap Prices with regard to COMEX, LME, SHFE and MCX. .... more info


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